Canada is not alone in dealing with a housing crisis

By Michael Giles

Apr. 6, 2026

A report from the United Nations released in 2025 began with – “The world is facing an unprecedented housing crisis.”

The UN Habitat report’s findings are staggering when considered in terms of the human impact of this international housing crisis. It’s noted that across the world, 318 million people are deemed homeless. In addition to this, 2.8 billion more people are classified as lacking access to adequate housing. That is one third of the world’s population. 

Besides the stunning impact of homelessness and inadequate housing on individuals on a human level, the ramifications on a broader societal level are just as impactful. Having a stable, secure and comfortable place to call home is the basis upon which all other success in life is premised. It is difficult to be a successful student, a productive employee or a fully integrated member of society when you don’t have a place to call home. 

For most people, home is the base, it is a sanctuary from the world and, in many ways, the most basic foundation upon which survival is achieved.

A look at specific jurisdictions reveals that, like Canada, many areas of the world are struggling with housing challenges not seen in generations.

In Ireland, a recent Department of Finance report predicted that the housing crisis there is likely to persist for at least another 15 years. The department indicates that housing “demand” is not expected to peak until the early 2030s, with what they describe as “pent-up demand” not alleviating until the early 2040s.

The department notes that, with Ireland having a population of 5.5 million people, at least 40,000 more construction workers will need to enter the system if there is any hope of building the homes needed. Ireland’s government indicates that 25 per cent of the new homes built will need to be social housing. Astoundingly, the lack of supply has seen home prices rise by 91 per cent since 2016 while rental costs have grown by 78 per cent. 

Likewise, in France the housing crisis there has seen property prices rise by more than 88 per cent in the past 20 years. It is reported that 15 million of France’s 69 million residents are directly impacted by the housing crisis. Keep in mind that during this period, where prices have risen by nearly 90 per cent, incomes have increased by 13 per cent in real terms. Extremely high construction costs and prohibitive interest rates have impacted the ability to build supply. 

Another European nation, Spain is also in the grips of a housing crisis. Rental prices have risen by more than 40 per cent over the last 16 years. Officials there estimate a housing deficit of between 700,000 and 800,000 homes. 

In spite of good reports, the United States also has its own housing crisis. It is estimated that there is a housing deficit of between three and six million homes, the result of over 15 years of underbuilding, high mortgage rates and higher construction costs. While looking better than Canada, the U.S. has seen the median price sit at just below $400,000 which represents the 32^nd month that has seen year-over-year price increases. 

In Australia, also grappling with a housing affordability and supply crisis, reports indicate that prices have risen by 47.3 per cent since winter 2020. That represents an additional $280,000 added to the median value of a home. The bottom line is that people simply cannot afford housing costs that continue to rise at unprecedented levels. 

So, Canada is not alone in dealing with a housing crisis. But like these other nations, the population of this country continues to grow impatient, angry and despondent as difficulties persist. 

Governments are trying to implement measures in all these countries including Canada, but if success continues to evade all of them and results seem illusive you can be sure that there will be political ramifications.